California Public Employees Retirement System raised its position in Seaspan Corp. (NYSE:SSW) by 1.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 135,800 shares of the company’s stock after buying an additional 2,300 shares during the period. California Public Employees Retirement System owned about 0.13% of Seaspan Corp. worth $1,896,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Bank of Montreal Can acquired a new stake in shares of Seaspan Corp. during the second quarter worth about $911,000. CIBC World Markets Inc. raised its stake in shares of Seaspan Corp. by 19.4% in the second quarter. CIBC World Markets Inc. now owns 46,115 shares of the company’s stock worth $644,000 after buying an additional 7,479 shares during the last quarter. TIAA CREF Trust Co. FSB MO raised its stake in shares of Seaspan Corp. by 7.9% in the second quarter. TIAA CREF Trust Co. FSB MO now owns 42,599 shares of the company’s stock worth $594,000 after buying an additional 3,116 shares during the last quarter. Investors Asset Management of Georgia Inc. GA ADV raised its stake in shares of Seaspan Corp. by 9.0% in the second quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 12,077 shares of the company’s stock worth $169,000 after buying an additional 1,000 shares during the last quarter. Finally, Telemus Capital LLC raised its stake in shares of Seaspan Corp. by 46.2% in the second quarter. Telemus Capital LLC now owns 19,000 shares of the company’s stock worth $265,000 after buying an additional 6,000 shares during the last quarter. 11.87% of the stock is currently owned by institutional investors and hedge funds.
Seaspan Corp. (NYSE:SSW) traded down 1.42% during midday trading on Friday, reaching $13.18. 195,644 shares of the company’s stock traded hands. Seaspan Corp. has a 1-year low of $13.15 and a 1-year high of $20.00. The stock’s 50 day moving average price is $13.95 and its 200 day moving average price is $15.36. The firm has a market cap of $1.39 billion, a price-to-earnings ratio of 15.22 and a beta of 1.29.
Seaspan Corp. (NYSE:SSW) last announced its quarterly earnings results on Monday, July 25th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.02. The company had revenue of $224.31 million for the quarter, compared to analyst estimates of $217.74 million. Seaspan Corp. had a net margin of 16.10% and a return on equity of 10.41%. The firm’s revenue was up 12.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.22 EPS. Equities research analysts anticipate that Seaspan Corp. will post $1.22 EPS for the current year.
A number of analysts have recently issued reports on the company. Zacks Investment Research raised Seaspan Corp. from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a research report on Wednesday, July 13th. Clarkson Capital reaffirmed a “neutral” rating on shares of Seaspan Corp. in a research report on Friday, September 23rd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $16.00.
About Seaspan Corp.
Seaspan Corporation is an independent charter owner and manager of containerships. It charters pursuant to long-term, fixed-rate time charters with various container liner companies. It operates a fleet of approximately 90 containerships. Its operating vessels include YM Wish, YM Wellhead, YM Witness, CSCL Manzanillo and Guayaquil Bridge.
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